Futu Holdings Ltd is trading 4.2% up at $99.58 after Hong Kong’s Securities and Futures Commission approved the firm to offer securities-backed financing for virtual asset trading.
- Futu is the first local brokerage in Hong Kong to receive this approval, significantly expanding its product scope and competitive edge in the region.
- The move allows the company to integrate traditional securities financing with the growing crypto market, supporting a more robust long-term growth outlook.
- The stock is currently extending a multi-day rebound, successfully recovering from a period of recent price weakness.